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FICPI Conference Insurance Sean Cray Regional Manager 26 July 2008. Content. Part One Professional Indemnity Insurance Part Two Incorporation and Insurance. Part One Professional Indemnity Insurance. IP Australia’s Proposal What effect will it have When will it be introduced.
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FICPI ConferenceInsurance Sean CrayRegional Manager26 July 2008
Content Part One Professional Indemnity Insurance Part Two Incorporation and Insurance
Part One Professional Indemnity Insurance • IP Australia’s Proposal • What effect will it have • When will it be introduced
Professional Indemnity Insurance Continued… • Mandatory Insurance • Minimum Set Standards • What is appropriate / adequate cover
Professional Indemnity Insurance Continued… • Risk Profiling • Key Considerations • Limit of Indemnity • Excess • Coverage • Exclusions • Endorsements
Professional Indemnity Insurance Continued… • Insurers • What Insurers look for: • Good Risk Management • North American Exposure • Your Clients Industries
Professional Indemnity Insurance Continued… • Dual Insurance • Companies who already purchase PI for non patent work (i.e. Legal Practices).
Part Two Incorporation - Insurance needs • Basic Insurance needs • Why Insurance • Insurances to be considered • Professional Indemnity • Directors & Officers Liability / Management Liability
Other Insurance considerations • Key Person Insurance • Succession Planning